EUR/CHF 4H Chart: Rising Wedge

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
A sharp depreciation of the Euro against the Swiss Franc that lasted for three weeks ended December 18 helped the single currency to accumulate strength for a rebound versus its Swiss peer. The rebound was performed in the corridor of two upward sloping, gradually converging lines, in the other words, within the boundaries of the rising wedge pattern. Up to now, we have not observed any distinct attempts to breach the pattern trend-lines and the pair seems to have to intention to change it.
© Dukascopy Bank SA
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